bullish

PEPE

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-drive-pepe-price-recovery-4/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Drive PEPE Price Recovery</a> 
PEPE price follows broader market cues, preventing a breakout from its upward trend. However, PEPE holders remain optimistic about a rise and are taking advantage of low prices despite the lack of similar sentiment from new investors. PEPE’s price recovery might be driven by investors, even if not by the broader market.
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-pepe-front">What’s Happening on the PEPE Front?</h2>
Current holders are actively seeking a price recovery by purchasing over 4 trillion tokens worth approximately $30.8 million from exchanges in just three days. In some cases, the transfer of supply from exchanges to investors’ wallets is considered a sign of concern. However, as there is no instability in any crypto exchange at the moment, this accumulation at a low price indicates a bullish sentiment among current holders.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384423 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/pepe-1.webp" alt="" width="2048" height="693">
While this buying activity may stabilize PEPE’s price and show confidence in its <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a>, there are concerns about traction among new investors. Despite the accumulation by current holders, PEPE’s adoption rate remains stagnant, showing little interest from outside the existing <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investor base</a>.
The lack of new investor interest is concerning as it suggests PEPE might struggle to sustain long-term growth. Without fresh capital, the altcoin’s broader market appeal is limited, posing a risk to its future viability. If PEPE continues to struggle to attract new investors, its bullish momentum may weaken, potentially leading to a price crash.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384422 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/itb-8.webp" alt="" width="1200" height="800">
<h2 class="p1" style="text-align: justify" id="pepe-chart-analysis">PEPE Chart Analysis</h2>
PEPE price is currently focused on a rise from the support level of $0.0000075. Trading at $0.00000766 at the time of writing, the <a href="https://en.coin-turk.com/meme-coin-surge-highlights-dogwifhats-breakthrough/" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a> has held above this support level for the past 72 hours. Mixed sentiments from investors may prolong this effort, causing the memecoin to continue moving sideways.
However, a breakout from this point could help PEPE rise and surpass the upper trend line of the descending wedge. This bullish trend indicates that an 81% rise is likely after the breakout, bringing it closer to its all-time high of $0.00001725.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384421 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/pepe-grafik.webp" alt="" width="1755" height="768">
On the other hand, there is a possibility that demand among PEPE holders may eventually decrease. The ultimate combination of low traction and low demand could tip the scales in favor of the bears. As a result, the memecoin may fall to test the critical support of $0.00000633. Losing this level would completely invalidate the bullish trend.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-drive-pepe-price-recovery-4/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Drive PEPE Price Recovery</a></h5>
The post <a href="https://en.coin-turk.com/investors-drive-pepe-price-recovery-4/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Drive PEPE Price Recovery</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Investors Drive PEPE Price Recovery

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